More from Trump and Abe:

Trump:

  • If we can come to an arrangement between US and Japan we would discuss taking all proposed steel and aluminum tariffs
  • would much prefer bilateral trade deal with Japan
  • negotiating one on one deal on trade with Japan

Japan's Abe said:

  • TPP is best trade deal for both Japan and US
  • Japan will continue to negotiate for its steel, aluminum to be exempted from US tariffs as I do not exert any negative influence on US security

More Trump:

  • if we can get along with China, if we can get along with Russia, if we can get along with Japan that's a good thing

The USDJPY is not really moving on all the headlines. The price remains between the 200 and 100 hour MA (107.117 and 107.244).

The press conference shows that the two leaders do seem to get along. Trump stood tall and won't stop until there is some concessions.

Abe wants Trump to negotiate prisoners being returned and a de-nuclear North Korea. Perhaps the reward for that, will be more open markets in Japan. At which point, the steel tariffs are abolished as well.

There is a lot of stuff going on, and it seems nothing has been accomplished but perhaps the pipe has been laid for action later.